Geox (GEO) Q3 2026 earnings summary

Executive summary

• 9M 2026 sales were €435.0m, down 11.7% YoY and 9.4% on a comparable basis; weakness spanned channels and regions.

• Operating cost actions reduced the cost structure by ~€26m, supporting confirmation of FY adjusted EBIT margin guidance of 3%-4% of sales.

• FY2026 guidance was confirmed, with results expected at the lower end of indicated ranges amid high uncertainty.

Financial highlights

• Net sales were €435.0m versus €493m in 9M25, down 11.7% reported, 11.8% at constant FX and 9.4% on a comparable basis.

• Wholesale sales fell 10.5%; Retail declined 9.9%; Web sales fell 15.9%.

• The second phase of the capital increase generated €21.4m in proceeds; LIR paid the €8.6m residual amount on October 12, completing the €60m refinancing-plan contribution.

Outlook and guidance

• FY2026 adjusted EBIT margin guidance remained 3%-4% of sales; sales and overall results were expected at the lower end of indicated ranges.

• Own website like-for-like sales were expected to remain positive for FY, at ~4%, below budget; November and December trading was expected to be soft.

• SS27 sell-in was down 9% versus SS26; excluding Asia perimeter changes and unprofitable account exits, orders were flat or slightly positive.

• The 2027 distribution perimeter was expected to be broadly stable; direct-store rationalization was complete and franchise restructuring nearly complete.